Donald Trump places reciprocal rates on 60 countries, including India, China, EU, Taiwan - Full details here | Today news

US President Donald Trump has announced a comprehensive tariff policy that imposes reciprocal duties on imports from 60 countries as part of his administration’s efforts to address the imbalances in trade and strengthen US industries. The policy contains a 10% baseline tariff for all imports, with significantly higher duties for countries running trade surplus with the United States. The highest rates were imposed on Cambodia (49%), Vietnam (46%) and Sri Lanka (44%), reflecting Trump’s strategy to target countries with significant trade surplus. Other Asian economies such as Bangladesh (37%), Thailand (36%), Taiwan (32%), and Indonesia (32%) also have steep charges. China, a key objective of Trump’s trade policies, will be subjected to a 34% rate, while the European Union will see a 20% duty on its export to the US. Important US allies, including Japan (24%), South Korea (25%) and India (26%), are not released, indicating the broad scope of rates. In addition, the UK, Brazil, Singapore, Chile, Australia and Turkey will each have a 10% duty. Israel (17%), the Philippines (17%) and South Africa (30%) are also one of the countries affected. A list of reciprocal rates that Trump announced: Details of US rates imposed on India, China and other countries Trump also confirmed a 25% tariff on car imports, which came into effect on April 3. The president spoke in the White House on Wednesday, and the president justified the aggressive tariff measures, claiming they were necessary to correct the long -term economic unauthorized. “Our country has been looted, punched, raped, looted by other nations,” Trump said. Canada and Mexico, two of the largest trade partners of the United States, are already subject to 25% tariffs on multiple goods. The new 10% baseline rate on all other imports will be implemented from Saturday at 12:01 p.m. The Trump administration expects these rates to earn hundreds of billions of dollars annually, while the president promises to lead to a revival of domestic manufacturing opportunities. “For years, hardworking American citizens have been forced to sit on the sidelines, as other nations have become rich and powerful, much of it at our expense. But now it is our turn to prosper,” Trump declared. Trump announces 26% of reciprocal tariff on India, citing high duties on US goods Trump has announced a 26% “discount on reciprocal tariff” on Indian imports, citing the high rates imposed by India on US goods. While unveiling the tariff plan, Trump emphasized that India levies substantial duties on American products. According to a graph offered by the administration, India places a 56% rate on US goods. To counteract this, the US will now ask India a 26% tariff, which Trump described as a ‘discount on reciprocal tariff’. Referring to his discussions with Indian Prime Minister Narendra Modi, Trump acknowledged their friendly relations, but insisted that trade policies should be more balanced. ‘India, very, very tough. Very, very tough. The prime minister is just gone. He is a wonderful friend of mine, but I said, ‘You are a friend of mine, but you do not treat us right. “They ask us 52%. Catch all the business news, the news reports and the latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business Newsnswes Newsdonald Trump farms reciprocal rates on 60 countries, including India, China, EU, Taiwan – Full details here more less